BNC Bancorp Stock Forecast
Weaker technical forecast for BNC Bancorp as stock downgraded to Sell Candidate.
(Updated on Apr 22, 2024)
The BNC Bancorp stock price fell by -4.54% on the last day (Monday, 22nd Apr 2024) from $23.36 to $22.30. During the last trading day the stock fluctuated 2.29% from a day low at $22.29 to a day high of $22.80. The price has risen in 8 of the last 10 days and is up by 4.69% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately $42.35 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.05% during the next 3 months and, with a 90% probability hold a price between $22.78 and $28.87 at the end of this 3-month period.
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YZCAY Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 8.78%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The BNC Bancorp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $22.85 and $22.64. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for BNC Bancorp stock
BNC Bancorp finds support from accumulated volume at $21.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.510 between high and low, or 2.29%. For the last week the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (YZCAY) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect BNC Bancorp to open at $22.46, and during the day (based on 14 day Average True Range), to move between $21.76 and $22.84, which gives a possible trading interval of +/-$0.537 (+/-2.41%) up or down from last closing price. If BNC Bancorp takes out the full calculated possible swing range there will be an estimated 4.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.52 (0.99%) than the support at $21.33 (4.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is BNC Bancorp stock A Buy?
BNC Bancorp holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Sell candidate.
Current score: -4.189 Sell Candidate Downgraded
Predicted Opening Price for BNC Bancorp of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $22.46 ( 0.732%) | $22.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YZCAY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.97 | 3.02 % | |
| R2 | 22.78 | 2.15 % | ||
| R1 | 22.66 | 1.61 % | ||
| Current price: | 22.30 | |||
| Support | S1 | 22.27 | -0.141 % | |
| S2 | 22.15 | -0.681 % | ||
| S3 | 21.95 | -1.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.39 | 13.83 % | |
| R2 | 22.90 | 2.69 % | ||
| R1 | 22.52 | 0.99 % | ||
| Current price | 22.30 | |||
| Support | S1 | 21.33 | -4.35% | |
| S2 | 20.85 | -6.50% | ||
| S3 | 20.32 | -8.88% |
YZCAY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 07, 2023 | Jul 03, 2023 | Aug 14, 2023 | $1.74 | 11.69% |
| 2 | Jul 01, 2022 | Jul 01, 2022 | Aug 01, 2022 | $0.597 | 2.83% |
| 3 | Jun 22, 2021 | Jun 22, 2021 | Aug 13, 2021 | $0.623 | 6.61% |
| 4 | Jun 24, 2020 | Jun 24, 2020 | Aug 17, 2020 | $0.82 | 15.13% |
| 5 | Nov 07, 2019 | Nov 07, 2019 | Dec 23, 2019 | $1.42 | 23.84% |
FAQ
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